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Changes brought in new itr form ay 13-14

Raj Kumar (Not) (85 Points)

14 May 2013

Dear All,

I would like to know the changes that were brought in new ITR forms (2,3,4,4s,5,6,7) in AY 13-14 compared to AY 12-13.

please share any kind of source available with u all. Urgent!!!

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3 Replies

Deepak Gupta (CA Student) (15922 Points)
Replied 14 May 2013

Originally posted by : Raj Sanwal
	Dear All, I would like to know the changes that were brought in new ITR forms (2,3,4,4s,5,6,7) in AY 13-14 compared to AY 12-13. please share any kind of source available with u all. Urgent!!!

CBDT mandates e-filing of audit report and return with 5 lacs income; no more ITR 1 if Sec. 10 benefit exceeds 5k

Income-tax (3rd Amendment) Rules, 2013 redefine the conditions and eligibility to choose from a variety of Income-tax return forms. In addition, certain important amendments have also been made in, which are as follows:

Form	Existing position	New Position
Form Sahaj (ITR 1)	Return in ITR 1 can't be filed if assessee incurs losses under the head 'Income from other sources'
	An individual if his total income includes: (a) Salary and family pension; (b) Income from one house property (excluding losses); (c) Income from other sources but does not include: • Winnings from lottery; and • Winnings from horse races.	An individual if his total income includes: (a) Salary and family pension; (b) Income from one house property (excluding losses); (c) Income from other sources but does not include: • Winnings from lottery; • Winnings from horse races; and • Loss under this head.
Form Sahaj (ITR 1)	Return in ITR 1 can't be filed if assessee claims tax relief or has any income which is exempt under Chapter III
	Return in ITR 1 cannot be filed by a resident person (other than not ordinarily resident in India), if he has: (a) Any asset (including financial interest) located outside India; (b) Signing authority in any account located outside India.	Return in ITR 1 cannot be filed by a resident person (other than not ordinarily resident in India), if he has: (a) Any asset (including financial interest) located outside India; (b) Signing authority in any account located outside India; (c) Claimed any relief of tax under Section 90, 90A or 91; (d) Incomme exceeding Rs. 5,000 which is not chargeable to tax. In other words, if assessee claims exemption in respect of any income under Section 10, 10A, 10AA, etc.
Form Sugam (ITR 4S)	Return in ITR 4S can't be filed if assessee claims tax relief or has any income which is exempt under Chapter III
	Return in ITR 4S cannot be filed by an Individual or a HUF deriving income as referred to in Sections 44AD or 44AE, if it has: (a) Any asset (including financial interest) located outside India; (b) Signing authority in any account located outside India.	Return in ITR 4S cannot be filed by an Individual or a HUF deriving income as referred to in Sections 44AD or 44AE, if it has: (a) Any asset (including financial interest) located outside India; (b) Signing authority in any account located outside India; (c) Claimed any tax relief under Section 90, 90A or 91; (d) Income exceeding Rs. 5,000 which is not chargeable to tax. In other words, if assessee claims exemption in respect of any income under Section 10, 10A, 10AA, etc.
Audit Report	Mandatory e-filing of audit reports
	No such requirement	E-filing of following audit reports shall be mandatory in following cases: (a) Audit report under Sec. 44AB in respect of books of account; (b) Audit report under Sec. 92E in respect of international transaction; or (c) Audit report under Sec. 115JB in respect of MAT computation.
Mandatory e-filing of return	Mandatory e-filing of return if income exceeds Rs. 5,00,000 or assessee claims tax relief
	It is mandatory for an individual or an HUF to e-file the return of income if its total income exceeds Rs. 10,00,000	(a) It is mandatory for every person (not being a co. or a person filing return in ITR 7) to e-file the return of income if its total income exceeds Rs. 5,00,000 (b) Every person claiming tax relief under Section 90, 90A or 91 shall file return in electronic mode.

List of forms to be used by different persons for filing of return of income for the Assessment Year 2013-14

*Individual and HUF*
Nature of income	ITR 1 (Sahaj)	ITR 2	ITR 3	ITR 4	ITR 4S (Sugam)
Income from salary/ pension	Yes	Yes	Yes	Yes	-
Income from one house property (excluding losses)	Yes	Yes	Yes	Yes	-
Income or losses from more than one house property	-	Yes	Yes	Yes	-
Income not chargeable to tax which exceeds Rs. 5,000	-	Yes	Yes	Yes	-
Income from other sources (other than winnings from lottery and race horses or losses under this head)	Yes	Yes	Yes	Yes	-
Income from other sources (including winnings from lottery and race horses)	-	Yes	Yes	Yes	-
Capital gains/loss on sale of investments/ property	-	Yes	Yes	Yes	-
Share of profit of partner from a partnership firm	-	-	Yes	Yes	-
Income from proprietary business/ profession	-	-	-	Yes	-
Income from presumptive business	-	-	-	-	Yes
Details of foreign assets	-	Yes	Yes	Yes	-
Claiming relief of tax under sections 90, 90A or 91	-	Yes	Yes	Yes	-

*Other Assesses*
*Nature of income*	*ITR 5*	*ITR 6*	*ITR 7*
Firm	Yes	-	-
Association of persons (AOP)	Yes	-	-
Body of Individuals (BOI)	Yes	-	-
Companies other than companies claiming exemption under Sec. 11	-	Yes	-
Persons required to furnish return under: (1) Section 139(4A); (2) Section 139(4B); (3) Section 139(4C); and (4) Section 139(4D)	-	-	Yes

Source: Tax Man

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Vishal (Student) (154 Points)
Replied 14 May 2013

ITR 1 Sahaj

Individuals having

• salary income

• income from house property

• income from other sources (except income from lottery or from
horse races)

Cant file return in ITR 1,

• if any income from Capital Gains

• if any loss under the head Income from Other Sources.

• if exempt income (Income not chargeable to taxi exceed Rs.
5.000.

• if such person has assets (including financial interest in any entity)
located outside India or such person has signing authority in any
account located outside India.

• If claiming any double taxation tax relief under sections 90 or 90
A or 91 of the Income-tax Act, 1961.

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